Grandstand. “Swiss Secrets”, the latest bombshell dropped by an international media group, is the continuation of the work begun with the “Panama Papers” and the “Paradise Papers”. It’s the same old story repeating itself over and over again. Each time journalists lift the veil on what is happening in the financial sector, we understand better the importance of banking secrecy: each time a network of corruption and sordid activities appears behind which, unsurprisingly, hides an army of customers dubious people and families of dictators, but also a handful of apparently respectable politicians from democratic countries.
But this time it looks different. It is not a small dark island located in remote waters, nor a developing country in search of an economic model other than that of drugs. No, it is a big bank, Credit Suisse, located in the heart of Europe, in one of the most prosperous countries in the world, a country where the rule of law is supposed to prevail. These revelations are all the more distressing because the country and the bank involved have promised transparency and reform – after having, for decades, facilitated tax evasion with no apparent problem. But the problem lies precisely there: there can be no financial responsibility of States and banks in the absence of increased transparency.
Gallery of thugs
The position of Switzerland, whose law punishes those who try to penetrate its secret, seems increasingly twofold. Around the world, countries are passing whistleblower laws, facing the extreme difficulty of shedding light on harmful behavior. In the United States, the revelations of Frances Haugen on the misdeeds of Facebook would undoubtedly not have been possible without the strong American laws on whistleblowers. Conversely, Switzerland seems to stick to the defense of banking secrecy, despite its harmful consequences, and punishes journalists and other people who manage to access data on what is happening in the shadows. of its financial system.
It is regrettable, but sadly not surprising, that no Swiss media could participate in this global collaborative investigation, given the heavy legal consequences provided by Swiss banking secrecy laws. We can therefore only salute the action of these non-Swiss journalists who risk being prosecuted by the Swiss authorities. Undoubtedly, Switzerland knows the dissuasive effect of its legislation: without a doubt or almost, its aim is to preserve its economic model as long as possible, in order to pocket a small share of illicit or ill-gotten goods, in exchange for a safe and secret haven in which to amass and store their bullion.
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